Portfolio Solutions Underwriter

Munich Re; London; On-site; GBP 50,000 - 90,000; Full time

Job summary

An established industry player is seeking a Portfolio Solutions Underwriter to join their dynamic team in London. This role involves underwriting new and renewal portfolios, managing performance metrics, and building relationships with brokers and coverholders. Emphasizing a data-driven approach, the successful candidate will collaborate with various stakeholders to ensure profitable growth. The company fosters a culture of diversity, equity, and inclusion, providing a supportive environment for personal and professional development. This is an exciting opportunity for those looking to make a significant impact in the specialty insurance market.

Benefits

25 days Annual Leave + Bank Holidays

10% Non-contributory Pension

Eligibility for an Annual Bonus

Private Medical + Dental Insurance

Critical Illness Insurance

Life Assurance

Permanent Health Insurance

Wellbeing and Development Scheme

Electric Vehicle Salary Sacrifice Scheme

Study & Continuing Professional Development Support

Qualifications

• Extensive experience in Underwriting and Pricing functions.
• Strong analytical and numerical skills required for decision making.

Responsibilities

• Underwrite new and renewal portfolios while managing performance.
• Collaborate with brokers and coverholders to secure new business.

Skills

Underwriting

Analytical Skills

Stakeholder Management

Time Management

Data Analysis

Tools

Spreadsheets

Databases

Job description

Company

Munich Re Specialty - Global Markets

Location

London, United Kingdom

About us

At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products, and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold, and curious, allowing them to achieve their individual goals.

Please see our website for more information.

Portfolio Solution Underwriter

We are currently looking for a Portfolio Solutions Underwriter to work with us on a full-time basis in our London office, reporting into the CUO - Portfolio Solutions.

The Portfolio Solutions team provides capacity to consortia / Broker Facilities / MGAs / Coverholders on a delegated authority basis across a wide range of product lines, creating a well-diversified and profitable portfolio.

This role is responsible for assisting the CUO, Portfolio Solutions in underwriting, performance management, and portfolio management of the account. The role will also assist in developing and delivering strategies to achieve profitable growth and will involve building relationships with external partners such as brokers and coverholders to attract business.

Responsibilities:

1. Underwrite new and renewal portfolios, exercising judgment in all underwriting matters, and remain aware of own underwriting limits as set out on the Underwriting Authority sheet, all in accordance with the Underwriting business plan; referring to CUO Portfolio Solutions when appropriate.
2. Ensure effective management of the portfolio, including performance, EPI monitoring, referrals, bordereaux management, rate movement, claims trends, regular reviews, underwriter visits, and audits; referring to CUO Portfolio Solutions when appropriate.
3. Develop and maintain effective relationships with Coverholders and Brokers to strengthen existing trading relationships and secure new business within the Underwriting business plan.
4. Discuss new opportunities, deal pipelines, and ideas with the wider underwriting and distribution team to ensure knowledge sharing and alignment.
5. Monitor and analyze the performance of in-force business through relevant metrics, noting deviations from the business plan and taking corrective actions where necessary.
6. Embed a data-driven approach to underwriting that incorporates commerciality to achieve profitable growth.
7. Collaborate with colleagues across different classes of business to deliver profitable portfolio business and avoid misalignment.
8. Work with internal stakeholders (Delegated Underwriting, Pricing and Reserving, Claims, Capital and Exposure Management) as required.
9. Assist in strategy setting, business reporting, and planning activities.
10. Participate in regular and ad-hoc team meetings, and meetings with external partners such as Coverholders, brokers, and suppliers.
11. Engage with the market to understand opportunities and trends.
12. Collaborate with senior management to establish best practices, standard processes, compliance, and policies.
13. Promote good conduct to deliver the best outcomes for customers and policyholders.
14. Understand escalation processes and responsibilities related to conduct risk management.

Knowledge and Skills

• Extensive experience in Underwriting, Pricing, Distribution, or Exposure Management, preferably within commercial or specialty insurance.
• Experience with delegated authority underwriting.
• Strong analytical, numerical, and quantitative skills.
• Excellent presentation, prioritization, and time management skills.
• Effective stakeholder management and influencing skills.
• Ability to understand complex structures and communicate clearly to stakeholders.
• Proficiency in analyzing large datasets and making data-driven decisions.
• Highly computer literate, with skills in spreadsheets, databases, and learning new systems.
• Ability to build and maintain cross-functional relationships at all levels.
• Capacity to multitask and manage conflicting priorities to meet deadlines.

Diversity, Equity & Inclusion

At Munich Re, we foster innovation and resilience through Diversity, Equity, and Inclusion, which are central to our identity. We aim to build a diverse workforce across various dimensions and ensure an inclusive environment where everyone can succeed.

Candidates can request reasonable adjustments during the recruitment process by contacting Talent Acquisition.

Our ESG approach is focused on sustainable business practices, community initiatives, and employee volunteering opportunities.

Learn more about sustainability at Munich Re – choose your impact!

Benefits

• 25 days Annual Leave + Bank Holidays
• 10% Non-contributory Pension
• Eligibility for an Annual Bonus
• Private Medical + Dental Insurance
• Critical illness insurance + Life Assurance + Permanent Health Insurance
• Wellbeing and Development Scheme + EAP + Health Assessments (subject to eligibility)
• Electric Vehicle Salary Sacrifice Scheme
• Study & Continuing Professional Development Support
• Hybrid Working + IT Home Set-up Support

#BePresent #BeBold #BeCurious